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← The Charlie Waller Trust

2024-12-31-accounts

Trustees’ Report and Financial Statements for the year ended 31 December 2024

The Charlie Waller Trust A company limited by guarantee Charity registration number 1109984, Company registration number 5447902

TABLE OF CONTENTS

Reference and administrative information 3 Structure, governance and management 21
Introduction from the Chairman 4 Constitution 21
Trustees’ report 5 Method of appointment or election of 21
Objectives and activities 6 Trustees
Empowering support networks
Our lived experience partners
Parents and carers
Education
Resources
Research and development		 8
9
10
11
12
13		 Policies adopted for the induction and
training of Trustees
Organisational structure and decision
making
Key management personnel
Trustees’ responsibilities statement
Disclosure of information to auditors		 21
21
21
22
23
Workplace
Fundraising perfomance and approach		 14
15		 Independent auditor’s report to
the Trustees		 24
Volunteers 16 Financial statements 27
Other grants and charitable activities
in 2024		 16 Statement of fnancial activities
Balance sheet
Plans for the future
Financial review
Statement of fnancial activities
Reserves policy		 17
19
19		 Statement of cash fows
Notes to the fnancial statements
Thank you		 39
Investment policy and performance 20
Risk management 20

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REFERENCE AND ADMINISTRATIVE INFORMATION

Presidents

The Rt Hon Sir Mark Waller Lady Waller OBE

Independent auditors

Gravita Audit Oxford LLP, Park Central, 40-41 Park End Street, Oxford, OX1 1JD

Trustees

R B Waller KC, Chairman G C R Booth FCA, Treasurer Dr N I Broughton D Colbourne M C Cole-Fontayn W P de Laszlo M Durden-Smith Dr M S Fazel N Garrett (appointed 11 March 2025) J B N Hay C P S Lytle J D G Murray K A Tait P G Waller I G Weatherby T West (appointed 11 March 2025)

Investment advisors

J.M. Finn & Co., 25 Copthall Avenue, London, EC2R 7AH

Bankers

CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4TA

Registered office

First Floor, 23 Kingfisher Court, Newbury, Berkshire, RG14 5SJ

Company registered number

5447902

Board Advisers

Professor David Clark Lord Crisp KCB Lord Layard Dr Denise Meyer John Olsen Professor Andrew Reeves Dr Suzanna Rose Sir Anthony Seldon Professor Roz Shafran Professor Sir Simon Wessely

Charity registered number

1109984

Patrons

Alexander Armstrong Gordon Black CBE Louise Black The Hon. Mrs de Laszlo Neil Durden-Smith OBE Nigel Gray Professor Steven Hollon Mary Nightingale Susan Shenkman Phoebe Waller-Bridge Anthony West Michael Whitfeld

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INTRODUCTION FROM THE CHAIRMAN

With young people’s mental health never far from the headlines, 2024 was a year of growth for the Charlie Waller Trust in many different ways. In terms of our core work, we extended the range of topics on which we offer training. Our free webinars, for example, now cover strategies for young people on overcoming loneliness, talking about mental health to neurodivergent young people, and digital wellbeing.

We continued to intensify our work with parents and carers, training further cohorts of parent carer peer support (PCPS) workers to offer support in local mental health services, using their vital lived experience perspective. Our PLACE network for PCPS groups continues to thrive, and we now have more trainers delivering specialist skills workshops for parents and carers of young people with eating problems.

Our lived experience partners, both in our youth ambassadors and our parents and carers with lived experience, were involved in a growing range of activities, helping us ensure that the voices of the very people we intend to support are truly at the heart of all we do.

We have increased our reach through social media. Whilst we recognise the research from our sister organisation, the Charlie Waller Institute (CWI), which indicates that less social media use is a key factor in mental wellbeing, we think it is still important to present positive, evidence-based information across the channels our audiences use.

Resources such as our series on making the transition to university have seen particularly good levels of engagement.

To underpin the expansion of our charitable activity, we have embarked on new ways of raising much needed funds: in the autumn, for instance, we successfully launched a promotional legacy campaign encouraging supporters to consider leaving the Trust a gift in their will, which has already resulted in several generous pledges.

Whilst this growth across all the Trust’s activities is good news, growth for growth’s sake is not what the Trust is about. As a small charity, we need to ensure that we focus our energy and passion on projects that make a real difference. It is therefore crucial that we grow our understanding of the context in which we find ourselves operating and of the most effective ways to help young people with their mental health in the current social, economic and cultural landscape. We have always been fortunate as a charity to have the privilege of working in partnership with a number of august and extremely well-respected organisations. Last year, these included the Universities of Cambridge, Oxford and Sussex.

This has given us invaluable opportunities to further our insights into, among other things, our whole organisation approach to young people’s mental health. It also enables us to keep abreast of the realities of life for young people, their parents and carers.

Our closest academic partnership is with the Charlie Waller Institute (CWI). Based at the University of Reading, CWI combines high quality research with specialist training for clinicians. In 2024, the Trust appointed Dr Hannah Vickery, formerly an Associate Professor at Reading and CWI’s Director of Training, as its Chief Executive, helping to foster even closer ties between the two organisations. As we continue to tailor our training and resources to the current mental health needs of young people, our relationship with CWI will ensure that our work is underpinned by a solid evidence base.

As always. we are enormously grateful to the consistent, dedicated and generous support of all our funders and tireless volunteers, whose energy and commitment is the lifeblood of everything we do.

Richard Waller KC Chair

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TRUSTEES’ REPORT

The Trustees (who are also the directors of the charity for the purposes of the Companies Act) are pleased to present their statutory report together with the audited financial statements of The Charlie Waller Trust (‘the Trust’) for the year ended 31 December 2024.

The report has been prepared in accordance with Part 8 of the Charities Act 2011 and it is also the report of the directors for the purposes of the Companies Act 2006. The financial statements have been prepared in accordance with the accounting policies set out on pages 34 to 36 and comply with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), effective from accounting periods commencing 1 January 2019 or later.

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OBJECTIVES AND ACTIVITIES

What we do

The Charlie Waller Trust was set up by the Waller family in 1997 after Charlie tragically died by suicide at the age of 28. Charlie’s story sits at the heart of the charity and we fundamentally strive to ensure that other children and young people, from primary school to early career employment, can access the support they need from those around them, when they need it most.

The majority of our work is delivered through the support systems around young people: parents/carers, education settings (schools, colleges and universities), and workplaces. It takes the form of consultancy, training, and the provision of educational and practical resources. We establish enduring partnerships with these support systems and work with them in evidence-based and evidence-informed ways (e.g., whole school approaches, and parent/carer peer support workers) to bring about sustained change and lasting improvement in children and young people’s mental health.

In cultivating a wider understanding of young people’s mental health and wellbeing, we increase individuals’ confidence to recognise the signs in those who might be struggling, to feel equipped to talk openly about the subject, and to work proactively to reduce the shame that still exists. In some communities the stigma narrative has shifted. Whereas previously there was a belief that “no-one should talk about mental health”, there is now in some quarters a perception that “talking about it has gone too far”. The reality is that both messages can isolate, invalidate, or unjustly blame the individual or family in difficulty. The Trust continues to tackle stigma around mental health and suicide as necessary work in bringing about sustained change and lasting improvement in young people’s mental health.

leaders, managers and staff to recognise and address mental health issues in individuals and teams, and across entire organisations.

The objectives of the Trust are as follows:

How we work

The following principles underpin all our work: Positive: We focus on prevention, early intervention and the importance of offering hope.

Purposeful: Our work is targeted on where we can make the most impact, and we centre the voices of those we support to ensure that what we do is really what is wanted, needed and valued.

Practical: Our content provides concrete strategies and tools to support children, young people, and their families, towards better mental health.

Proven: Our consultancy, training and resources are evidence-based and/or evidence informed, often developed in collaboration with academic research teams at the forefront of their respective areas.

Our work is evidence-based and the vast majority is offered free of charge. ‘Charlie Waller Workplace’ is distinct from our other areas of activity in that it is a commercial offer. Providing paid-for expert training and consultancy, Charlie Waller Workplace equips

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Our values

We work in a way which is:

The Charities Act requires the trustees, in exercising their powers or duties, to have due regard to the public benefit guidance published by the Charity Commission. The trustees are mindful of this obligation and refer to the guidance when reviewing the Trust’s aims and objectives and in planning future activities. In particular, they have considered how planned activities will contribute to the aims and objectives, as described in this report.

Through 2024, the trustees, supported by the new CEO and wider team, focused on refining our offer as a charity to be most impactful and most relevant, whilst also ensuring our longevity and sustainability in a challenging landscape of overstretched and under-resourced mental health provisions. We also committed and invested in ensuring our work and our organisation reflect and represent diverse communities; vitally important given that many young people face increased vulnerability to mental health problems for reasons of social and economic disadvantage, sexuality, race or disability, as well as at points of transition in their lives.

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EMPOWERING SUPPORT NETWORKS

Mental health problems affect individuals. But recovery doesn’t usually happen in isolation.

Young people, especially, need those around them to understand what they’re going through and how to help. It’s amazing what can happen when they do.

In 2021, Molly was battling anorexia. She moved back home from university for treatment. She said:

“I was struggling immensely, dealing with my illness and coping with the transition of moving home after having my independence.”

“I have started to use your resources for schools and have become increasingly aware of how I can support children’s mental health. I’ll endeavour to continue with this throughout my whole career and your resources help with this.

“Your charity has made a direct positive impact on my life, and I will be forever grateful.”

Molly’s story illustrates the crucial role of adults in young people’ mental health. Parents, carers, teachers, aunts, uncles, friends – we can all play our part. We hope this Impact Review shows how.

Molly’s parents were struggling too. They felt lost and didn’t know how best to support her. They began attending our workshops and webinars, meeting other parents and carers going through similar experiences.

Molly said:

“When my parents joined these sessions I noticed significant improvements in my recovery; they began to understand what was going on in my head more and offer me strategies that really helped.

“They encouraged my brother, grandparents and friends to all join in, so I had such a supportive network around me. I owe my life to my parents and they wouldn’t have been able to support me without what the Charlie Waller Trust offered them.”

Molly is now a teacher. She is still benefiting from our work – as are her students:

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OUR LIVED EXPERIENCE PARTNERS – A VITAL RELATIONSHIP

Our lived experience partners (LXPs) put the voices of young people, parents and carers at the heart of our work.

Parent carer lived experience partners

Our parent carer LXPs champion lived experience and bring perspective to our work. Among other things, they play a vital role in ensuring our training and resources are responsive to parents’ and carers’ needs.

Youth ambassadors

In 2024, our youth ambassadors helped shape our strategic business plan, gave talks about our work, ran mental health webinars with our trainers and speakers, recorded podcasts, trained Charlie Waller staff in co-production, influenced policy and reviewed resources.

Last year our Youth Ambassadors’ Stigma to Strength podcast was played 1,625 times. Episodes included Entering the World of Work, Revision and Exam Stress, Friendships, and Balance and Routine as a Young Professional.

I feel like I’ve developed so much as a person and professionally...I have massively benefitted from the public speaking opportunities I have been granted, as well as from the opportunities I have been given to take more responsibility.

Youth Ambassador, 2024

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PARENTS AND CARERS

Parents and carers have a vital role to play in children’s mental wellbeing. Supporting a child or young person with mental health issues can be incredibly challenging. Often the best way for parents and carers to get support is to connect with others who have been through something similar. This is known as parent carer peer support (PCPS) and evidence shows not only how much it helps the mental health of the parent/carer but often leads to improvements in the mental health of their young person.

Our PCPS training courses offer parents and carers with this sort of experience the opportunity to become PCPS workers. Having PCPS workers within local mental health services (including inpatient, community and neurodevelopmental teams) is hugely valuable and means parents and carers are more likely to get the support they and their children need. In July 2024 we celebrated the achievements of the 34 parents and carers who attended our third PCPS training course, thanks to support from NHS England.

Last year also saw the conclusion of three years of funding from the Bernard Sunley Foundation for our PCPS work. This enabled us to pilot the PCPS role in three areas – Derbyshire, Devon and County Durham – and give direct support to over 1,400 families.

It has enabled me to integrate lots of what I have been learning through the taught sessions. It also enabled me to explore concepts further which I feel has built my confidence, knowledge and expertise. PCPS trainee, 2024

Workshops for people caring for a loved one with an eating disorder

Using the New Maudsley Approach, our workshops offer parents and carers professional techniques for supporting the recovery of children and young people.

89% of respondents said the course increased their personal confidence.

94% of respondents said the course increased their personal knowledge and understanding to support their loved one with an eating disorder.

The strategies have given us the confidence to feel like we might be able to navigate this illness.

Workshop participant, 2024

Parent carer peer support (PCPS) training course

Our PCPS training, in partnership with the University of Reading and the University of Northumbria, builds the skills, knowledge and confidence of parent carer peer support workers, enabling them to be effective and safe in setting up, and running, support for parents and carers of children and young people with mental health problems.

I have a better understanding and knowledge of various different topics that will support my role. The course has given me confidence and reminded me of the value I hold as a person and PCPS.

Coming up

Parent carer research network

In partnership with the University of Oxford, we are creating a network of parents and carers who’ll be involved in research on children and young people’s mental health. More than 70 parents and carers signed up within a week of the launch.

PCPS trainee, 2024

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EDUCATION

Our expert trainers deliver mental health training in schools, colleges and universities. Wherever possible they use a ‘whole organisation approach’ involving teachers, learners and – in schools and colleges – parents and carers. This helps create a mentally healthy community which is sustainable. It can include innovative ways of working such as emotion coaching, a technique which helps school staff support children to regulate their emotions in the classroom and outside it.

We have a wide geographical reach, delivering training across mainstream and special schools, the state and independent sectors, and community settings such as prisons. Last year we delivered 360 training sessions, reaching 15,782 people

Our trainers are often involved in educationbased projects and research. Last year these included the development of toolkits to enable schools and colleges to track their progress in applying the whole school or college approach (WSCA).

For higher education providers, our CREATE toolkit offers guidance in creating an effective and evidence-based mental health and wellbeing strategy. In 2024, we developed a practical workbook to complement the toolkit.

Colleges and universities

96% agreed or strongly agreed that the session they attended increased their knowledge.

95% agreed or strongly agreed that the session they attended increased their confidence.

[The trainer’s] knowledge was excellent and she conveyed it in a way that was engaging. She was approachable and I left the session with a greater understanding of the science behind brain development.

Assistant Principal, Sixth Form College Farnborough

Coming up

New partnerships

We’ll be focusing on building new partnerships with schools, colleges and universities, using our whole organisation approach.

Schools and community

97% of training participants agreed or strongly agreed that the session increased their knowledge.

95% agreed or strongly agreed that our trainer was able to promote practical strategies.

Throughout the session [the trainer] made sure what he was delivering was relevant to the different roles within the room…keeping the group feeling engaged. Charlie Waller Trust is invested in making a difference and that’s what counts.

Family Engagement Manager, HMP Cardiff Invisible Walls

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RESOURCES

Our booklets, posters and other resources have always been a core part of our charitable work. They are now available as text on our website and as downloads. However, there is still a demand for printed versions as so many young people, parents, carers, teachers, youth workers find these helpful to use and to share.

Every week, our small and dedicated team of office volunteers pack and send out hundreds of resources free of charge on topics ranging from Supporting a child with anxiet to Coping with self-harm and How to ask for help with your mental health.

With extremely useful insights from our Youth Ambassadors, we updated our Wellbeing Action Plans for children and young people, simplifying the language and including more relatable and inclusive examples. We also launched a version for adults, full of practical guidance on wellbeing.

I LOVE these examples! It’s great to see representation of a variety of different individuals and names…Having the case studies, that are very simply and effectively worded, really helps with completing activities.

Youth ambassador

Our free mental health book club continued to give schools books that help staff support the mental wellbeing of the children and young people they work with.

These books give valuable insight into how I can best support my caseload of children and young people in relation to a variety of areas that can cause struggles/difficulties.

School nurse

In 2024 we sent out 49,529 printed booklets, posters and other mental health resources, up 6% on 2023.

On our website there were 42,921 views of our resources and 26,304 downloads.

Our free book club makes a tangible difference to its members and their day-to-day work.

In 2024 we sent out 962 books to schools and other youth settings.

The books you have offered are fabulous. They reflect the most current thinking and are completely suitable for the service we provide.

Member of Behaviour Support and SEMHS Team (Social, Emotional and Mental Health for Schools)

Coming up

(Ch act dengett a

Talking about suicide

We’re reviewing our guide on Talking about Suicide to ensure the language is helpful for those supporting neurodivergent young people.

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RESEARCH AND DEVELOPMENT

All our work is informed by sound clinical evidence. Central to this is our sister organisation, the Charlie Waller Institute (CWI), part of the School of Psychology and Clinical Language Sciences at the University of Reading. CWI undertakes innovative research and trains hundreds of psychological practitioners each year. The research team is led by Professor Stella Chan, Charlie Waller Chair in EvidenceBased Psychological Treatment.

Our trainers often work on research and development projects in their fields of expertise. Last year, this included the development of a tool to identify children with anxiety disorders in school and community settings. The findings so far are promising, indicating that a brief questionnaire for parents can be an efficient way to identify children who may benefit from support for anxiety problems.

We also undertook research to inform the creation of new resources launching in 2025: our mental health resource for young people at work, and Empowering Parents and Carers, a suite of materials we are co-producing with our lived experience partners.

The EVA study: emotional vulnerability in adolescents

Depression and anxiety are common in adolescents but current treatments are not always effective.

Over five years, the Emotional Vulnerability in Adolescents (EVA) study at CWI looked at factors that could make adolescents more vulnerable to depression and anxiety, to help inform prevention strategies. These factors included health and lifestyle, family history and personality, as well as biological risks such as levels of the ‘stress hormone’, cortisol, and social experience, such as bullying.

The findings suggest that future prevention and intervention strategies should consider individual differences amongst young people of different ages, gender and experience.

This research gives us vital insights to inform our training and resources in the coming months and years.

In 2024, CWI delivered clinical training to more than 350 practitioners working with children and young people and families, including:

Resilience Rucksacks

The Resilience Rucksack project aims to give every child a rucksack containing items to help them look after their mental health as they move from Year 6 to Year 7 – a challenging time. Items include a song about sleep, a stress ball, and a self-compassion journal.

1,000 young people have attended ‘Resilience Fairs’ with 93% saying they like the rucksacks.

The pupils had an excellent time and found the fair really helpful… they were able to identify the techniques and resources which might help them develop their resilience in the future.

Abingdon Preparatory School, Oxfordshire.

Coming up

Bringing Eden to School

Charlie Waller Institute (CWI) will be working with the Eden Project, harnessing the positive impact of nature on young people’s mental health.

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WORKPLACE

Our workplace partnerships flourished, with some entering their fourth year and new partners joining up for long term strategic work. More than two thirds of our training delivery was to managers, whose understanding of mental health is vital to organisational wellbeing.

We continued to support voluntary sector organisations in Berkshire through our funded programme of training for charity leaders, managers, and workers.

Responding to the changing needs of workplaces, we developed a new training course in neurodiversity, introduced sessions on creating more inclusive workplaces, and launched our YES (Young Employee Support) workshops to help employers support those new to work.

Berkshire Music Trust has greatly valued the Charlie Waller Workplace’s webinar training sessions. The broad choice of training sessions enabled all staff to take something away … that will impact them well beyond their professional roles.

The income generated by Charlie Waller Workplace is invested in the training and resources we provide to schools, colleges and universities free of charge.

100% of training participants who responded to our survey would recommend our training

The presentation…offered invaluable insights and practical tools for our working parents to support their children’s wellbeing effectively.

Sian Robinson, People Officer, Sanctuary

A very useful session and very well received by the team. We will all take away useful skills and learning from it. I would thoroughly recommend other companies get Charlie Waller Workplace to come to speak to staff.

Doug Glenday, Group CEO, Supporting Education Group

Dawn Wren, CEO, Berkshire Music Trust

Coming up

Work.Life.Tools.

In 2025 we’ll launch our new guide for young people at work.

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FUNDRAISING PERFORMANCE AND APPROACH

We depend on public support to deliver our vital work in support of young people’s mental health and wellbeing. The support of individuals, trusts and foundations, companies and other organisations allows us to continue to provide our training, resources and wider support.

Our fundraising has performed well in 2024, with our events programme (which includes community and third-party fundraising) and corporate partnerships channels performing particularly well. We have continued to invest in our fundraising operation to support the delivery of our key income channels, and to support the continuing diversification of our income sources, as we look to further develop a robust and sustainable fundraising mix. We are pleased to report an income of £1,761,977 (excluding £18,467 from Gifts in Kind) from our fundraising activity, contributing to a total income of £1,935,599.

A number of fundraising activities contributed to these results, including events such as our annual carol services, the London Marathon and Flackstock; our corporate partnerships with ING Bank, Fiera Real Estate and Kepler Cheuvreux; a Radio 4 appeal and our annual Christmas appeal with The Big Give; our Friends of Charlie Waller regular giving scheme; statutory funding from NHS England; and a number of substantial grants from trusts and foundation partners.

We undertake fundraising activity with supporters through our own organised events, individual challenge events, corporate partnerships, appeals and other activities in line with the Fundraising Code of Practice. We are registered with the Fundraising Regulator and are committed to good fundraising practice. Our privacy policy (which is available on our website) details how we obtain and use individuals’ data, and that we will uphold individual contact preferences and not share this information with any third parties. No complaints about our fundraising activity were received in the year.

Commercial participation activity

We have a professional and committed fundraising team, and a culture of supporting our fundraising activities right across the organisation. We are fortunate to have a number of volunteer-led fundraising committees, who have supported key events throughout the year.

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VOLUNTEERS

Our volunteers had a huge impact in 2024, contributing to both fundraising and charitable activity. We were grateful to receive dedicated and significant support from 65 volunteers during the year.

OTHER GRANTS AND CHARITABLE ACTIVITIES IN 2024

The Charlie Waller Trust is not a grant-making charity. However, we occasionally make grants for specific projects or activities to meet our charitable objectives.

In 2024 we made a number of grants as part of our parent peer support programme, to support the development of these new roles within children’s mental health teams.

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PLANS FOR THE FUTURE

The Trustees have approved our new three-year Business Plan (2025 – 2027) with the following priorities:

In the year ahead, with the launch of the threeyear business plan, we will be engaging staff to develop our organisation values, and the associated behaviours required, in practice.

In 2025, we will continue with charitable activities that extend our reach and impact. Our plans include:

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Dr Hannah Vickery, CEO of The Charlie Waller Trust

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FINANCIAL REVIEW

Statement of financial activities

Total Income decreased by 33% to £1,935,599 (2023: £2,900,985). This was not surprising because in 2023 the Trust benefited from two exceptional income items; the anniversary ball £398,149, and legacy gift £385,250. Total Expenditure was £2,277,312 (2023: £2,394,639), a decrease of 5% from the previous year.

The net deficit for the year was £341,713 (2023: net income £506,346) whilst net gains on investment assets were £45,887 (2023: gains £46,089). This resulted in an adverse net movement in funds of £295,826 (2023: favourable £552,435).

At the year-end the Trust held unrestricted funds of £2,061,574 (2023: £2,455,105) and restricted funds of £133,045 (2023: £35,340).

Details of income are given in notes 2, 3 and 4 to the financial statements. The expenditure on raising funds and on the charitable activities performed in furtherance of the Trust’s charitable objectives is set out in notes 5 and 6.

Reserves policy

The level of reserves is reviewed by the Trustees on a regular basis. The factors taken into account are the Trust’s existing financial commitments and activities, future plans and the uncertain nature of its income. The current context of cost of living rises and a reduction in charitable giving nationally demonstrates the importance of maintaining adequate reserves.

Although income dropped in 2024; there were some exceptionally successful instances of people raising funds for us. Trends are monitored closely, and our charitable operation is flexible enough to enable expenditure to be reduced in response to a downturn in income. However, against this background and the ever-increasing need for the Trust’s services, the Trustees believe it is important to be able to maintain the current level of charitable expenditure over the next three years. They do not believe that short term fluctuations in activity are in the best interests of the charity, its reputation or its potential beneficiaries.

The Trust’s reserves policy therefore aims for a level of unrestricted reserves sufficient to achieve this goal, which is equivalent to between nine and twelve months annual expenditure. This level of reserves provides sufficient flexibility to cover any temporary shortfall in income and would allow the charity time to respond to unforeseen adverse circumstances, whilst planning longer term remedial measures. After making allowance for £133,045 of restricted funds, designated fund expenditure of £307,328 in 2025 and £250,000 in later years, and £15,626 of tangible fixed assets, the Trust has free reserves of £1,488,619 at 31 December 2024. This was equivalent to six months of the expenditure budget for 2025. Having assessed the potential level of risk on income and taking account of the flexibility to reduce planned activities, in the present circumstances, the Trustees believe that this relaxation of policy is justified. The Trust’s aim is to replenish its reserves.

Funds are held in cash deposits and listed investments with the capacity to grow in the long term.

In 2022 the Trustees committed to a further fiveyear gifting agreement with the University of Reading (Chair in Evidence-based Psychological Treatments and the Charlie Waller Institute). In accordance with FRS102 the full gift of £250,000 was taken in the 2022 accounts and will be disbursed at £50,000 per annum for the five years to 2027. The Trustees have designated £250,000 in respect of a further such gift in 2027 and £307,328 in respect of unfunded projects in the business plan and budget for 2025, which provides for increased charitable expenditure of £2,089,462.

Further details of the designations are given in note 15.

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Investment policy and performance

JM Finn & Co. manage the Trust’s investment portfolio in accordance with the investment policy agreed by the Trustees. The policy is to seek a combined return from income and capital growth, adopting a medium risk profile with no specific minimum of low-risk investments. The policy is reviewed annually by the Trustees and adjusted, where necessary, to ensure that it remains appropriate to the Trust’s objectives, tolerances for the acceptance of risk and market conditions.

The total value of the Trust’s portfolio as at 31 December 2024 was £1,322,618; 33% in UK equities and funds, 26% in UK bonds and 41% in overseas bonds, equities and alternatives.

Investment gains for the year were £45,887 and there were no income withdrawals (2023: £17,275). The total return for the year was +4.67% (benchmark: +10.1%).

Details of the current value of the portfolio are given in note 10.

Risk Management

The Trustees have a duty to identify and review the risks to which the Trust is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trust maintains a risk register which is reviewed by the Board annually as part of its Risk Management Policy.

The Trustees have identified the following key risks:

To mitigate these risks the Trust:

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STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Trust is a company, limited by guarantee, as defined by the Companies Act 2006. It was registered as a company on 10 May 2005.

It is the successor to The Charlie Waller Memorial Trust (registered Charity number 1065936), which was established by a Trust deed dated 20 October 1997. On 11 September 2005 all the activities, assets and liabilities of the unincorporated Charity were transferred by Deed to this incorporated Charity (registered Charity number 1109984). The former unincorporated Charity then ceased activities and was removed from the Register of Charities.

The Charity’s objects are:

Method of appointment or election of Trustees

Trustees are appointed by the members of the company or by the Trustees, in accordance with the Articles of Association.

Policies adopted for the induction and training of Trustees

New Trustees are provided with key governing documents such as the Articles of Association as well as the Trustees’ Report and Financial Statements, Trust policies and an overview of our charitable activities and impact. They are also provided with relevant guidance from the Charity Commission on their role and responsibilities as a Trustee.

Organisational structure and decision making

The business of The Charlie Waller Trust is managed by the Trustees. Trustees’ meetings are held as often as is necessary to run the Trust properly. At least four full meetings are held each year.

In 2024 the role of the Investment Committee was expanded to cover additional financial matters. The Finance and Investment Committee’s terms of reference include reviewing the Trust’s management accounts and budgets, the annual Financial Statements, the Risk Register and investment performance and policy.

In addition, the Trustees are supported by the Patrons of the Trust.

The Trust also has Board Advisers consisting of people with specific experience and/or national profile in their field who are willing and able to provide occasional advice and guidance to the Board of Trustees.

Key management personnel

The Trustees, together with the staff listed below, comprise the key management of the Trust in charge of directing and controlling, running and operating the Trust on a day to day basis. None of the Trustees are remunerated for their services to the Trust. The remuneration of the CEO is determined with reference to performance and appraisal by the Chair and Treasurer in consultation with the Board of Trustees.

Clare Stafford left the Trust in February 2024. Dr Hannah Vickery started as Chief Executive Officer in March 2024. She is responsible to the Trustees for overall executive management including the charitable activities of the Trust.

The Head of Fundraising, Nick Appleby, leads all the Trust’s fundraising activities with support from office staff and individuals and committees who volunteer for the Trust.

Rebecca Miles-Mallowan left the Trust in November 2024 and Tajinder Leonard joined as Head of Communications in December 2024.

The Head of Programmes, Kay Boyden left the Trust in April 2024 and Emily Kippax joined in March 2024.

A new post of Head of Finance and Operations was created in 2024 and Faramade Rees joined in August 2024.

charliewaller.org • hello@charliewaller.org 21

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees (who are also the directors of The Charlie Waller Trust for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

charliewaller.org • hello@charliewaller.org 22

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

Auditors

The auditors, Gravita Audit Oxford LLP (formerly Critchleys Audit LLP), have indicated their willingnesss to continue in office. A resolution reappointing them as auditors was passed at the Annual General Meeting in September 2024.

This report was approved by the Trustees on 3 June 2025 and signed on their behalf by:

.........................................................................

Richard Waller KC, Chairman

Trustee

charliewaller.org • hello@charliewaller.org 23

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE CHARLIE WALLER TRUST

Opinion

We have audited the financial statements of The Charlie Waller Trust (‘the charitable company’) for the year ended 31 December 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the [entity]’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

charliewaller.org • hello@charliewaller.org 24

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

charliewaller.org • hello@charliewaller.org 25

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www. frc.org.uk/auditorsresponsibilities.

This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Katherine Wilkes (Senior Statutory Auditor)

For and on behalf of Gravita Audit Oxford LLP

First Floor

Park Central

40-41 Park End Street

Oxford OX1 1JD

Date: 27th June 2025

charliewaller.org • hello@charliewaller.org 26

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Audited Statement of Financial Activities

Including the income and expenditure account Year Ended 31 December 2024

Notes
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
Investments
4
TOTAL INCOME
Expenditure on:
Raising funds
5
Charitable activities
6
TOTAL EXPENDITURE
NET INCOME / (EXPENDITURE) BEFORE
INVESTMENT GAINS / (LOSSES)
Gains / (Losses) on investment assets
10
NET INCOME / (EXPENDITURE)
7
TRANSFERS BETWEEN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward		 2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
£
£
£
£
1,089,072
126,719
1,215,791
1,589,554
101,666
311,406
413,072
614,120
253,247
-
253,247
659,141
53,489
-
53,489
38,170
……................. 2024 …….................
1,497,474
438,125
1,935,599
2,900,985
433,963
-
433,963
506,866
1,492,982
350,367
1,843,349
1,887,773
1,926,945
350,367
2,277,312
2,394,639
(429,471)
87,758
(341,713)
506,346
45,887
-
45,887
46,089
(383,583)
87,758
(295,826)
552,435
(9,947)
9,947
-
-
(393,530)
97,705
(295,826)
552,435
2,455,105
35,340
2,490,445
1,938,010
2,061,575
133,045
2,194,619
2,490,445

The notes on pages 30 to 38 form part of these financial activities

27

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Balance Sheet

at 31 December 2024

31 Dec 2024 31 Dec 2023
Notes £ £
Fixed Assets:
Tangible assets 9 15,626 13,705
Investments 10 1,322,618 1,263,645
Total Fixed Assets 1,338,244 1,277,350
Current Assets:
Debtors 11 200,708 295,571
Cash at bank and in hand 960,499 1,365,414
Total Current Assets 1,161,207 1,660,985
Liabilities:
Creditors: amounts falling due within one year 12 (204,832) (297,890)
Net Current Assets 956,375 1,363,095
Total Assets less Current Liabilities 2,294,619 2,640,445
Liabilities:
Creditors: amounts falling due in more than one year 13 (100,000) (150,000)
Total Net Assets 2,194,619 2,490,445
The Funds of the Charity
Restricted funds 15 133,045 35,340
Unrestricted funds 15 2,061,575 2,455,105
Total Charity Funds 2,194,619 2,490,445

The financial statements were approved by the Board of Trustees on 3 June 2025 and were signed on behalf by:

Richard Waller KC, Chairman

Company registered number: 5447902

The notes on pages 30 to 38 form part of these financial activities

28

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Statement of Cash Flows

For the year ending 31 December 2024

2024
Notes
£
Net cash provided by operating activities
14
(436,353)
Cash flows from investing activities:
Plus dividends, interest and rents from investments
53,489
Less purchase of property, plant and equipment
(8,966)
Plus proceeds from the sale of investments
1,064,253
Less purchase of investments
(1,080,605)
Plus cash held by investment manager for reinvestment
3,267
Net cash provided by investing activities
31,438
Change in cash and cash equivalents in the reporting period
(404,915)
Cash and cash equivalents at the beginning of the reporting period
1,365,414
Cash and cash equivalents at the end of the reporting period
960,499		 2023
£
302,431
38,170
(8,853)
6,528
(369)
(17,222)
18,254
320,685
1,044,729
1,365,414

The notes on pages 30 to 38 form part of these financial activities

29

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

1. Accounting Policies

The Charlie Waller Trust is a charitable company limited by guarantee which is incorporated in England and Wales. The registered office is First Floor, 23 Kingfisher Court, Newbury, Berkshire, RG14 5SJ.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year ended 31 December 2024.

The financial statements have been prepared under the historical cost convention or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements have been prepared in accordance with the charity’s governing document, the Companies Act 2006, FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice appliable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

No significant accounting estimates or judgements were required or made by the Trustees in the presentation of the financial statements.

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made the assessment in respect to a period of one year from the date of approval of these financial statements.

The Trustees of the charity have concluded that there are no uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income from investments comprises income earned on the charity’s listed investments and interest on cash deposits. Dividends are recognised once the dividend has been declared and the amount has been received. Interest on funds held on deposit is included when received and the amount can be measured reliably by the charity; which is normally upon notification of the interest paid or payable by the bank.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, and any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donations and event income are recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

30

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

Support costs are allocated to activity costs on the basis of a reasonable estimate of the time spent supporting the activities.

All resources expended are inclusive of irrecoverable VAT.

Fund accounting

Unrestricted funds represent general funds available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust. Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transactional value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

The charity does not acquire put options, derivatives or other complex financial instruments.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted at the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such amounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Operating leases

Payments in respect of operating leases are charged to the SOFA on a straight line basis over the term of the lease.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fixed Assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. Depreciation is provided at the rate of 25% on a straight line basis.

Gifts in kind

Items donated for fundraising events have been included as donations received and as costs of charitable activities. The items are at the amount they would have cost had they been bought in.

31

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

2. INCOME AND ENDOWMENTS FROM:
Donations and legacies
Individual & Community Fundraising
Individual Giving
Gifts in kind
Donations received from other trusts and foundations
Donations received from training activities
Corporate Giving
Trading/Commercial
Tax recoverable (Gift Aid)
Donations received for resources
3. INCOME AND ENDOWMENTS FROM:
Charitable activities
Statutory contracts
Workplace training
4. INCOME AND ENDOWMENTS FROM:
Investments
Listed investments
Cash investments
5. EXPENDITURE ON RAISING FUNDS
Direct costs of fundraising
Gifts in kind
Support and office expenses		 2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
£
£
£
£
328,538
-
328,538
197,327
240,523
-
240,523
578,506
18,467
-
18,467
145,697
200,875
44,000
244,875
385,458
60,560
-
60,560
88,699
246,655
-
246,655
117,516
8,816
-
8,816
11,219
64,609
-
64,609
61,852
2,748
-
2,748
3,280
…………...………. 2024 ……………………..
1,171,791
44,000
1,215,791
1,589,554
-
311,406
311,406
518,610
101,666
-
101,666
95,510
101,666
311,406
413,072
614,120
17,974
-
17,974
17,275
35,515
-
35,515
20,895
53,489
-
53,489
38,170
365,564
-
365,564
310,439
18,467
-
18,467
145,697
49,932
-
49,932
50,730
433,963
-
433,963
506,866

32

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

6. EXPENDITURE ON CHARITABLE ACTIVITIES
Education Programme
Familes Programme
Workplace Programme
Resources & Materials
Support and governance costs (see note below)
Grants paid to Institutions (see note below)
Statutory contracts
Support and governance costs
Programme direction
Financial inc. insurance
Staff inc. training
Information technology inc. communications
Office expenses
Audit and other professional fees
Trustees expenses
Grants paid to Institutions
Bernard Sunley - Parent Carer Peer Support Worker grant
7. NET INCOME / (EXPENDITURE)
This is stated after charging:
Depreciation of tangible fixed assets:
- owned by the company
Auditor's remuneration
Auditor's other fees		 2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
£
£
£
£
412,623
14,000
426,623
414,148
194,678
-
194,678
168,633
175,252
3,750
179,002
151,461
282,879
32,872
315,750
267,442
391,551
-
391,551
330,046
36,000
-
36,000
36,000
-
299,745
299,745
520,043
…………...………. 2024 ……………………..
1,492,982
350,367
1,843,349
1,887,773
158,971
-
158,971
117,973
27,745
-
27,745
25,186
109,402
-
109,402
100,549
36,953
-
36,953
33,802
42,735
-
42,735
42,338
15,369
-
15,369
9,911
376
-
376
287
391,551
-
391,551
330,046
36,000
-
36,000
36,000
36,000
-
36,000
36,000
2024
2023
£
£
7,046
6,758
15,300
9,600
-
276

33

THE CHARLIE WALLER TRUST

(A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

8. STAFF NUMBERS

The average monthly number of employees during the year was as follows;

Charitable activities
Administrative
Fundraising
STAFF COSTS AND THE REMUNERATION OF KEY MANAGEMENT PERSONNEL
Staff - Salaries, wages and pension contributions
CEO - Salary, wages and pension contributions
Staff - Employer's National Insurance costs
CEO - Employer's National Insurance costs
The emolument of employee who is higher paid fell into the band:
£70,000-£79,999		 No.
No.
15
12
5
3
7
7
27
22
£
£
759,260
589,072
94,687
70,119
70,068
52,704
10,705
7,960
1
1

Clare Stafford left the Trust in February 2024. Dr Hannah Vickery started as Chief Executive Officer in March 2024.

9. TANGIBLE FIXED ASSETS

ANGIBLE FIXED ASSETS
Fixtures and fittings
£
Cost
At 1 January 2024 22,450
Additions 8,966
At 31 December 2024 31,416
Depreciation
At 1 January 2024 8,745
Charge for the year 7,046
At 31 December 2024 15,790
Net book value
At 31 December 2024 15,626
At 31 December 2023 13,705

34

(A company limited by guarantee)

THE CHARLIE WALLER TRUST

Notes to the financial statements for the year ended 31 December 2024

10. FIXED ASSET INVESTMENTS
Market value of listed investments portfolio at 1 January 2024
Additions at cost
Sales proceeds
Net gain/(loss) on revaluation
Profit/(loss) on sales
Reduction in cash held by investment manager for reinvestment
Market value of listed investments portfolio at 31 December 2024
Analysed as follows:
Fixed Interest - UK bonds
Equities & funds - UK
Equities & funds - Europe
Equities & funds - Global
Equities & funds - Global themed
Equities & funds - Emerging markets
Alternatives
Cash and cash equivalents
Investment portfolio - historical cost		 2024
2023
£
£
1,263,645
1,206,494
1,080,605
369
(1,064,253)
(6,528)
4,467
41,338
41,421
4,750
(3,267)
17,222
1,322,618
1,263,645
339,305
261,528
437,394
429,186
49,462
45,507
103,411
38,500
166,168
164,752
-
21,563
206,208
278,669
20,670
23,940
1,322,618
1,263,645
1,045,389
990,885

35

(A company limited by guarantee)

THE CHARLIE WALLER TRUST

Notes to the financial statements for the year ended 31 December 2024

11. DEBTORS
Trade debtors
Prepayments and accrued income
Other debtors
12. CREDITORS
Amounts falling due within one year
Trade creditors
Accruals
Deferred income
Other creditors
Deferred Income
Deferred income at 1 January 2024
Incoming resources deferred during the year
Amounts released from previous years
Deferred income at 31 December 2024
13. CREDITORS
Amounts falling due after more than one year
Funding committed not yet paid
14. Reconciliation of net income to net cash flow from operating activities
Net income / (expenditure) for the reporting period (as per the SOFA)
Add back depreciation charges
Deduct interest income shown in investing activities
Add back / (deduct) gains losses on investments
Decrease / (Increase) in debtors
(Decrease) / Increase in creditors falling due within one year
(Decrease) / Increase in creditors falling due in more than one year
Net cash provided by/(used in) operating activities		 2024
2023
£
£
62,598
132,179
59,206
119,688
78,904
43,704
200,708
295,571
80,221
144,380
119,421
106,100
5,190
45,410
-
2,000
204,832
297,890
45,410
257,710
5,140
45,410
(45,410)
(257,710)
5,140
45,410
100,000
150,000
(295,827)
552,435
7,046
6,758
(53,489)
(38,170)
(45,887)
(46,089)
94,863
68,556
(93,058)
(191,060)
(50,000)
(50,000)
(436,353)
302,431

36

(A company limited by guarantee)

THE CHARLIE WALLER TRUST

Notes to the financial statements for the year ended 31 December 2024

Brought Carried Carried
15. THE FUNDS OF THE CHARITY Forward Income Expenditure Gains/ (Losses) Transfers Forward
Unrestricted funds - 2024 £ £ £ £ £ £
Designations
Charlie Waller Institute Chair fund (2028 - 2032) 250,000 - - - - 250,000
Parent/Carer Peer Support 60,017 - (158,392) - 131,673 33,298
Mental health assessment toolkit - Schools & Colleges 10,000 - - - (800) 9,200
Website & CRM development 15,020 - (24,018) - 54,998 46,000
Young People in the Workplace Videos 9,240 - (19,470) - 10,230 0
Student Ambassadors 28,155 - (45,370) - 69,522 52,307
Parent Carer Peer Support Workers 20,000 - (36,000) - 30,000 14,000
Monitoring & Evaluation improvements - - - - 36,800 36,800
The Parents Research Network - - - - 6,104 6,104
Communities - - - - 15,760 15,760
NMA Eating Disorder Training Project - - - - 77,560 77,560
Mental health bookclub for education sector - - - - 16,200 16,200
Other unfunded expenditure in budget and business plan 153,914 - - - (153,816) 98
546,346 - (283,250) - 294,231 557,328
General funds 1,908,759 1,497,473 (1,643,695) 45,887 (304,178) 1,504,246
2,455,105 1,497,473 (1,926,945) 45,887 (9,947) 2,061,574
Restricted funds - 2024
Other contracts - 311,406 (299,745) - 7,895 19,556
Resilience Rucksacks Project with CWI 2,000 - (4,000) - 2,000 -
Alexander P.S. McKeown Charitable Foundation 5,000 - (5,000) - - -
The Big Give - 82,719 - - - 82,719
Berkshire Community Foundation - 5,000 (3,750) - - 1,250
The Cutlers' Company - 4,000 (4,000) - - -
David Family Foundation - 5,000 - - - 5,000
de Laszlo Foundation 3,520 5,000 - - - 8,520
The Foyle Foundation 8,820 - (8,872) - 52 -
The Freshfield Foundation 16,000 24,000 (24,000) - - 16,000
Legge Family Fund via Hampshire Community Foundation - 1,000 (1,000) - - -
35,340 438,125 (350,367) - 9,947 133,045
2,490,445 1,935,598 (2,277,312) 45,887 - 2,194,619
Unrestricted funds - 2023 £ £ £ £ £ £
Designations
Charlie Waller Institute Chair fund (2028 - 2032) 250,000 - - - - 250,000
Parent/Carer Peer Support 126,503 - (125,862) - 59,376 60,017
eLearning development inc. additional modules & cont. dev. 17,500 - (11,000) - (6,500) -
Student participation videos 13,000 - - - (13,000) -
Mental health assessment toolkit - Schools & Colleges - - - - 10,000 10,000
Website & CRM development 15,000 - (19,842) - 19,862 15,020
Students against depression website development 5,000 - - - (5,000) -
Young People in the Workplace Videos 5,000 - (13,030) - 17,270 9,240
Student Ambassadors 25,000 - (27,935) - 31,090 28,155
Parent Carer Peer Support Workers 34,500 20,000 (34,500) - - 20,000
-
Other unfunded expenditure in budget and business plan 200,717 - - - (46,803) 153,914
692,220 20,000 (232,169) - 66,295 546,346
General funds 1,214,140 2,259,375 (1,606,538) 46,089 (4,307) 1,908,759
1,906,360 2,279,375 (1,838,707) 46,089 61,988 2,455,105

37

THE CHARLIE WALLER TRUST (A company limited by guarantee)

Notes to the financial statements for the year ended 31 December 2024

Restricted funds - 2023
Other contracts
Resilience Rucksacks Project with CWI
Adrian Swire Charitable Trust
Berkshire Community Foundation
Bernard Sunley Foundation
Alexander P.S. McKeown Charitable Foundation
The Cutlers' Company
de Laszlo Foundation
Essex Community Fund
The Foyle Foundation
The Freshfield Foundation
Gallagher Community Fund
Hospital Saturday Fund
The Sobell Foundation		 4,650
518,610
(452,235)
-
(71,025)
-
-
2,000
-
-
-
2,000
-
6,500
(6,500)
-
-
-
-
5,000
(5,037)
-
37
-
7,000
25,000
(36,000)
-
4,000
-
-
5,000
-
-
-
5,000
2,000
-
(2,000)
-
-
-
-
5,000
(6,480)
-
5,000
3,520
-
8,500
(8,500)
-
-
-
-
15,000
(6,180)
-
-
8,820
16,000
24,000
(24,000)
-
-
16,000
2,000
-
(2,000)
-
-
-
-
2,000
(2,000)
-
-
-
-
5,000
(5,000)
-
-
-
31,650
621,610
(555,932)
-
(61,988)
35,340
1,938,010
2,900,985
(2,394,639)
46,089
-
2,490,445

Restricted fund detail

Adrian Swire Charitable Trust – 2023 Open Access Webinars, Alexander P.S. McKeon Charitable Foundation – Resilience Rucksacks, Berkshire Community Foundation – Embedding wellbeing culture in CVS in Berkshire, Bernard Sunley Foundation – Part-time PCPS roles, The Cutlers' Company – School and College Training in London, David Family Foundation – Resilience Rucksacks, de Laszlo Foundation – SAD Website, Essex Community Fund – Partnership with Charlie Watkins Foundation and Boys in Mind resources to support young people’s mental health, The Foyle Foundation – Schools Mental Health Book Club, The Freshfield Foundation – Raising CWT’s profile, Gallagher Community Fund – Training in schools, Hospital Saturday Fund – 2023 Open Access Webinars, Resilience Rucksacks Project with Charlie Waller Institute (CWI), Legge Family Fund via Hampshire Community Foundation - Schools training in Hampshire, The Sobell Foundation – Parent Supporting Young People Resources

. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Creditors due in more than one year		 Unrestricted
Funds
Restricted
Funds
Total
Funds
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
£
£
£
15,626
-
15,626
13,705
-
13,705
1,322,618
-
1,322,618
1,263,645
-
1,263,645
1,028,162
133,045
1,161,207
1,625,645
35,340
1,660,985
(204,832)
-
(204,832)
(297,890)
-
(297,890)
(100,000)
-
(100,000)
(150,000)
-
(150,000)
…………...………. 2024 ……………………..
…………...………. 2023 ……………………..
2,061,574
133,045
2,194,619
2,455,105
35,340
2,490,445

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

17. CONTROLLING PARTY

The charity as a company limited by guarantee is controlled by the guarantors.

18. RELATED PARTY TRANSACTIONS

During the year, no Trustee received any remuneration (2023 - £nil). During the year, no Trustee received any benefits in kind (2023 - £nil). One Trustee received reimbursement of expenses amounting to £376 in the current year for travel expenses (2023 - One Trustee - £287). In addition, the Trustees took out Trustee Indemnity Insurance at a cost of £13,773 (2023 - £9,509).

During the year, unconditional donations totalling £1,002 (2023 - £562) were received from the trustees, one trustee donated goods valued at £1,000 (2023 - £455).

19. CAPITAL COMMITMENTS

At the balance sheet date, the charity had financial commitments of £Nil (2023: £Nil).

20. OTHER FINANCIAL COMMITMENTS

At 31 December 2024 the Trust had total future minimum lease payments under non-cancellable operating leases expiring as set out below:

2024 2023
£ £
Land & Buildings
Payable within one year 28,800 28,800
Payable two to five years 76,800 105,600

Payments made under land and buildings operating leases in the year amounted to £24,000 (2023: £24,000)

38

Remembering Charlie

Charlie Waller was a strong, funny, popular, good-looking and kind young man, with a close and loving family. To the outside world, he had everything to live for. Yet in 1997, at the age of 28, Charlie died by suicide. He was suffering from depression.

In response to this tragedy, his family founded The Charlie Waller Trust, to open up the conversation around depression, and to ensure that young people are able to understand and look after their mental health and to spot the signs in others.

Charlie sits at the heart of our story, our vision and our purpose.

THANK YOU

We rely on the generosity, energy, skills and commitment of our supporters, donors and volunteers in order to continue our work.

We are enormously grateful for any donation, large or small, and would like to thank all the individuals, trusts, companies, schools, colleges, universities and other organisations whose support enables us to move closer to our vision.

Our vision is of a world in which young people are educated to understand mental health and can get all the support they need.

GET IN TOUCH

hello@charliewaller.org 01635 869754

FIND OUT MORE charliewaller.org

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The Charlie Waller Trust

First Floor • 23 Kingfisher Court • Newbury • Berkshire • RG14 5SJ Registered Charity No. 1109984

02.2025